the winner of sunday's's parliamentary elections in greece has begun talks -- sunday's parliamentary elections increase has begun talks to create a coalition. >> both parties back the e-lead bailout iran and together would be a majority in -- a majority in parliament. but they face opposition from the syriza party that finished second. >> it is hoped they will not have to reach a coalition any time soon, but everything depends on the collective will of the elected leaders. the greek president house the leader of nea dimokratia to form a new government. >> i will try to form a national
salvation government immediately with a long-term plan. and with the participation of parties that believe in greater european orientation and participation in the own. >> the former finance minister has proposed the government consist of the four top parties. but the leader of syriza has indicated that he has no interest in such a coalition. so again be uncertainty of coalition talks. there is a feeling that it must not fail. >> for more, we have our correspondent on the line from athens. how difficult do you think it will be to form a coalition this
time around? >> it has been a very busy day. he has been speaking to several different parties. it is complicated. syriza, as you mentioned, does not wish to join the coalition. and even some of the smaller parties. now the urgency here is incredibly important. if you remember, last time, it took 10 days for coalition talks to break down. there is no sign of any clear winner at this stage. >> syriza says it will not enter a coalition government with new democracy.
how important is that? >> i think it could prove of born in the side of the new government. syriza recently gained a huge amount of popularity among people here. they are already disenchanted with the austerity measures. i think syriza really believes it could cause quite a bit of trouble. they could put a lot of pressure on them. it seems they do not want to be an opposition. they think they will be more effective as opposition. >> thank you for that analysis. the greek election was closely followed and all european countries and is regarded as our referendum on the euro. >> here are some reactions from
german political leaders, beginning with the german chancellor angela merkel attending the g 20 summit in mexico. >> the pro-bailout parties are in a position to form a government and the german chancellor urges them to stick to the original bailout terms. >> the important thing is the new government commits itself to the obligations it has entered into. europe was always agreed that elections cannot jeopardize decisions we made together. that is the same with the bailout terms for greece. >> the german foreign minister give a slightly different view of the position. he said while the terms were carved in stone, there might be talks. he said the election campaign increase, or rather the campaigns, have taken time, valuable time. >> the important thing though is
there can be no changes to the fundamental substance of the bailout. >> this is being seen as a hint that greece could be given more time to meet the terms of the rescue package. >> and we spoke with the president of the european parliament. we asked if he was relieved by the results of the greek election. >> i think it is good news for europe on both sides. the agreement, the so-called memorandum. antonis samaras voted with his party against all the measures of the previous majority.
a certain kind of hesitation amongst the observers is justified. but i trust that they will respect the agreement and they can expect on the other hand the european union -- some of the proofs of the agreements, but that is the point i support. >> that was martin schulz the european parliament president. >> now the tension is now on spain. madrid has called for the european central bank to step in to relieve international markets pressure as a borrowing costs soar. >> the 10-year bonds went to 7%, raising serious concerns about its financial health. >> in madrid, the sense of relief at the greek elections did not last long. traders are still worried about spain's future.
today, we saw the market opened higher. within just minutes, they fell again. we expect the risk premiums for spain and other problem countries to remain where they are. that is indicated in the price spain pays to borrow money. six months ago, 10-year bonds were selling at an interest rate of 5.1%. now that rate tops 7% for the first time. spain's budget deficit is already huge and the government cannot afford to keep paying interest rates at that level. last saturday, the arizona ministers -- euro zone ministers agreed, but many doubt that will be enough.
they were stuck with bad loans after the property boom collapsed in 20008. the ministers are due to hold their next meeting on june 28. >> concerns dominated trading here in europe on monday. we have this report from the frankfurt stock exchange. >> brief, but no exultation after the greek election outcome. the mood even worse in europe. the trading day picture looked much better in the german market than other european markets. as soon as greece got out of the spotlight, the focus turned to other countries. there is a high pressure on the hero which fell below $1.26. -- on the euro fell below $1.26.
the stock market plans would have been the biggest german ipo in years. >> it was a choppy day of trading here in europe. 0.3% higher. the eurostoxx 50 lower. the dow jones industrial -- trading is still going on. turning now to egypt where vote counting is still under way. both presidential candidates are claiming victory. baathists -- that is mohammed morsi and this rival , the former prime minister ahmed shafik.
>> however, the military has been given power that many say will weaken the president's authority. >> the leaders of the muslim brotherhood celebrating on tahrir square. the election results are not expected until wednesday, but already the brotherhood are claiming victory. for many, it is a watershed moment. >> this is the first democratically-elected president in egypt, so i am personally so happy i cannot even describe it. >> morsi claims to be the president of all egyptians and called for national unity. but his opponent disputes his claim, saying early results show their victory is beyond doubt. there are doubts as to whether the vote was free and fair. >> i do not know about this
election. there have been reports of some irregularities. >> but there could be problems around the corner and some are mistrustful of the military for a promise to transfer power at the end of the month. >> our correspondent is following events in cairo. kareem, the military says they will hand over power to the new president, but precisely what powers are left to handover? >> basically, they announced an interim constitution for the country. this is a very important thing. it makes the military completely untouchable by the new president. the military is going to announce the constitutional assembly that will write this constitution for the country and they will have the right to
review these decisions by the constitutional assembly. so these rights are taken away from the president's. they came up with this sort of last week. >> the military decree would appear to be a major setback for the revolution. how have the egyptians and reacting to the news? >> it is interesting. there is still a lot of interest in who is going to win the elections? out in tahrir square there are mostly supporters of the muslim brotherhood. it seems like mostly that shafik won the majority in cairo, but
we're waiting for official confirmation. >> ahmed shafik and mohammed morsi have been celebrating victory. how does this affect political prospects in egypt? >> it remains to be seen. the president, if he wants to run the state apparatus, he needs to get that he vote from the military. >> our correspondent in cairo their. thank you for bringing us up to date on that. we will have more news and sports for you after the break, but to bring you up-to-date on some of the results of affirmative action from euro 2012, we have of italy, spain, croatia, and ireland playing. >> and the big summit in los
>> welcome back. the outcome of the greek election has been well received at the g-20 met in mexico. there were hopes the crisis in europe could be contained. >> but others noted the crisis in europe is far from over. the problem facing spain, italy, and other countries could darken the economic future of people on both sides of the autistic. >> everyday life in los cabos goes on, despite the presence of so many world leaders. but local people hope the summit is not child's play and could have a real impact on their
lives. he runs a jewelery shop just off the main square. >> i'm pretty worried. what is happening in greece is spreading to the u.s., and that can affect us in mexico. so, it is a worry. >> beyond the southernmost tip of the baja peninsula, europe feels a world away. but at this luxurious hotel, they are examining how the european debt crisis developed. he says they are focusing on one country in particular. >> spain. because spain is a global and systemically significant country. matters to everyone outside europe. >> bailout pledges seen a drop in the ocean in the face of
these problems. -- seen a drop in the ocean in the face of these problems. >> community. that is what germany is doing and that is why it is doing relatively well as far as its own growth. it is a winning formula. and these are long soulmates here at the los cabos summit. >> but how long will it take for political solutions to form? this man hopes he will be able to stop worrying about the crisis. >> the debt crisis is a central topic of the summit. leaders are looking for assurances that protective measures are being put in place to deal with the crisis and stop it from spreading. >> joining us -- germany is under enormous pressure to show leadership.
chancellor merkel and calling for other countries to step up as well. >> so far, the bailout packages and mechanisms will cost $1.5 trillion euros. germany has had to cough up a lot of the payments and guarantees. but the chancellor warns it is as much as germany can bair. -- can bear. germany has also paid out guarantees for loans to debt- ridden countries. been there is the esm. the eu has earmarked 170 billion euros. germany has promised 22 billion in cash.
but spain could itself need support, and that may mean that berlin will have to up its contribution. and there is the european central bank. it deals with problems and struggling countries, in part using german money. if the efforts prove worthless, that's german tax money down the main. on top of this, german government pays into the international monetary bailout scheme. 140 billion of that is coming from berlin. this is the cost to german taxpayers for propping up the euro. it is not far off twice germany's national budget. >> france's elections confirm to the -- confirmed the allies to
the new president francois hollande. >> that means hollande moved quickly to implement reforms he promised in his election campaign earlier this year. the socialist reform agenda includes reprising -- increasing taxes on corporations and hiring more teachers or schools. aung san suu kyi has attended a meeting in oslo. >> and the rock singer bono is also attending. he is due to present her with an amnesty international work in dublin on wednesday. >> and the games for the european soccer championship are under way. >> we have some other stories from around the world. >> chinese astronauts have
entered the laboratory for the first time. the space ship docked with the lab earlier. this is another step toward china's first space station, which it expects to build by 2020. >> israeli soldiers have shot dead he dove militants in a change of fire -- to the militants in an exchange of fire. and israeli construction worker was killed building a fence near the border. >> hospital workers say at least 52 people have been killed and religious rioting in nigeria. violence spared by suicide bombings at churches in several cities. are radical group said it carried out the attacks. >> alright.
as promised, the european soccer championship now, and tonight's matches in group c. kicked off -- spain is drawing 0-0. >> italy one up there. millions watched germany versus denmark. 450,000 people joined the crowd here to see germany secured their spot in the quarterfinals. >> that's another close victory for germany. and lard bendrick with the goal. >> all eyes were on lars as a
defender. >> it takes time to sink in, but it was really a special experience for me. >> bender sprinted 80 meters in 20 seconds. that brought him in position to score. he says it was a good thing he made the shot since he was so far of position. -- off position. >> i had no choice but to score. if the keeper had got it, i would had to spread the 80 meters back. >> the danes fought hard in this match. for a long time, the scores were level. then more action in quarter
finals against greece. >> portugal beat the netherlands and there -- their score was 2- 2. the striker turns the match around. the winner came in the 74th minutes. the netherlands are out after losing all three of their matches. and now a story of a comeback in the world of tennis. roger federer has lost in the final. >> and the victory handsome a wild card entry into wimbledon. >> injury has led to regular
frustrations in his career. >> we are really feeling great about it. >> what made bigger is that the 34-year-old is in the final. he is ranked no. 3 in the world. it was a fascinating match. 7-6, 6-4. and just to make the when a little sweeter, it was his first win in a decade. >> police in london are looking into assault charges against a tennis player. >> it was the final of the queen's tournament in london. he kicked in the panel, smashing
into a line judge. the argentinian was immediately disqualified and the victory was handed to his opponent. >> and just a quick update on the soccer scores. croatia and spain playing in europe 2012. >> and we will be following this the rest of the night, so keep it here. >> stay with us. captioned by the national captioning institute --www.ncicap.org--